During the past 13 years, the highest Beneish M-Score of Rockville Financial Inc was -0.98. The lowest was -3.03. And the median was -2.39.

Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

* Premium members only.

Rockville Financial Inc Annual Data

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

Dec14

Dec15

Dec16

Beneish M-Score

-3.03

-2.53

-1.52

-2.39

-2.27

Rockville Financial Inc Quarterly Data

Sep12

Dec12

Mar13

Jun13

Sep13

Dec13

Mar14

Jun14

Sep14

Dec14

Mar15

Jun15

Sep15

Dec15

Mar16

Jun16

Sep16

Dec16

Mar17

Jun17

Beneish M-Score

-2.38

-2.25

-2.27

-2.39

-2.23

Competitive Comparison

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap.

Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Rockville Financial Inc for today is based on a combination of the following eight different indices:

M

=

-4.84

+

0.92 * DSRI

+

0.528 * GMI

+

0.404 * AQI

+

0.892 * SGI

+

0.115 * DEPI

=

-4.84

+

0.92 * 1.104

+

0.528 * 1

+

0.404 * 1.0003

+

0.892 * 1.0755

+

0.115 * 0.6534

-

0.172 * SGAI

+

4.679 * TATA

-

0.327 * LVGI

-

0.172 * 0.9821

+

4.679 * 0.0177

-

0.327 * 0.8693

=

-2.23

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI

=

(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))

/

(Depreciation_t / (Depreciaton_t + PPE_t))

=

(3.824 / (3.824 + 53.021))

/

(6.253 / (6.253 + 54.48))

=

0.06727065

/

0.10295885

=

0.6534

6. SGAI = Sales, General and Administrative expenses Index

The ratio of c in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI

=

(SGA_t / Sales_t)

/

(SGA_t-1 /Sales_t-1)

=

(91.107 / 211.632)

/

(86.259 / 196.774)

=

0.43049728

/

0.43836584

=

0.9821

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase$sgai= in leverage

LVGI

=

((LTD_t + CurrentLiabilities_t) / TotalAssets_t)

/

((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)

=

((1138.817 + 0) / 6876.163)

/

((1222.16 + 0) / 6415.084)

=

0.16561809

/

0.19051348

=

0.8693

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA

=

(IncomefromContinuingOperations_t

-

CashFlowsfromOperations_t)

/

TotalAssets_t

=

(NetIncome_t - NonOperatingIncome_t

-

CashFlowsfromOperations_t)

/

TotalAssets_t

=

(58.635 - 0

-

-62.858)

/

6876.163

=

0.0177

An M-Score of less than -2.22 suggests that the company will not be a manipulator. An M-Score of greater than -2.22 signals that the company is likely to be a manipulator.

Rockville Financial Inc has a M-score of -2.23 suggests that the company will not be a manipulator.

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